A Nigerian Yahoo Boy has confessed how he uses the BVN on a stolen sim card to transfer money to his bank account, untraceable.

According to the alleged Yahoo Boy, with someone’s sim, he can retrieve entire banking details, reset the mobile banking operation, and effect transfer to an account that can’t be traced to him.

He noted:

“I’m into wire fraud. popularly known as a ‘sim transaction’.”

  • I get a stolen sim & dial 425100# to get a list of bank accounts, the victim has linked to that account.
  • Depending on the banks available, I dial the bank’s USSD code to check the victim’s balance.
  • I proceed to reset the pin. The bank requests for the acct no& date of birth. Most people save their acct num in their contacts & I can get the DOB from the victim’s BVN. Most people save it in their contacts. If it’s not saved on the phone, there’s a code to get it.
  • Once the PIN has been reset, I start making transfers out of the account. If there’s no money in the account, and it’s a salary account, I apply for quick payday loans with the victim’s account. I can take loans between 5,000 to 20,000 depending on the person’s credit score.
  • To receive the money, I open a ‘no-traces account’ sometimes know as ‘Aza’. This is typically a quick set-up account that I open with the victim’s BVN or any other BVN I can find. This ensures that when the bank is investigating, the account is not linked to me.
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From this piece, it is advisable to block your sim anything you lost it. Be kind to share to educate others.

Source: OccupyGh.com